Stop Cash Shrink

The Future of Marijuana Banking To determine what direction marijuana banking might take, and how the risk profile of that activity might change, it will be important to continue to monitor the actions of key players in this ecosystem. The most obvious parties to watch are FinCEN and the DOJ. But their motivations—and the motivations

Officials in Gov. Jerry Brown’s administration have quietly met with representatives of 65 banks and credit unions over the past few weeks about creating a network of financial institutions that would accept funds from pot businesses in a way that would guarantee federal banking regulators that the cannabis industry money is subjected to special tracking,

The legalization of the cannabis industry creates a cash conundrum as California businesses try to figure out how to operate in a cash-only world — without the use of bank accounts, credit cards, checks and payroll. Bankers said the only plan proposed within the state to open up banking to cannabis businesses is not likely

On the latest episode of the ABA Newsbytes Podcast, Jeffrey Ball — president and CEO of Friendly Hills Bank, Whittier, Calif. — discussed several emerging issues in public policy — including banks’ role in financial innovation and protecting consumers, as well as the increasingly urgent need to address banking marijuana-related businesses. “As fintechs look to

LITTLETON, Colo., Dec. 12, 2017 /PRNewswire/ — CanPay, the first legitimate debit payment solution for the cannabis industry, today announced its entrance into Maryland’s newly instituted medical marijuana market. CanPay provides Maryland patients with a convenient, secure, and transparent alternative to the cash-only system typically found in the legalized cannabis industry. Initially, CanPay will be